Supply Chain Management Market Size Is Expected To Reach USD 34.1 Billion By 2028


 San Francisco, 15 July 2022: The Report Supply Chain Management Market Size, Share & Trends Analysis Report By Type (Supply Chain Planning, Procurement, Supply Chain Execution), By Region, And Segment Forecasts, 2022 - 2028

The global supply chain management market size was estimated to reach USD 34.1 billion by 2028 and is expected to attain a CAGR of 10.8% from 2022 to 2028, according to a new report by Grand View Research, Inc. The speedily rising implementation of information technology and stirring advancement in them as it improves and supports the overall supply chain is one of the key factors that drive the growth of the supply chain management market. In addition, the growing rush in demand and usage of supply chain management services and software by various enterprises and industries due to its capability to easily and efficiently manage all the data generated in the business is also driving the supply chain management market. The increasing concerns among enterprises regarding the privacy and security of confidential data is a major factor restraining the market growth. Most of the key players operating in the supply chain management market are adopting various strategies to capture maximum market share globally.

The COVID-19 pandemic has positively impacted the supply chain management market. The supply chain management market witnessed an upsurge due to the global lockdown as major supply chains were disrupted across the globe along with a shortage of material that failed to meet the demand of users or consumers. Thus, supply chain management software was highly adopted by various businesses to meet the supply and demand requirements.

The supply chain planning segment contributed to the global market revenue share of over 35% in 2021. Supply chain planning software helps to set an equilibrium and encounter supply and demand requirements by applying algorithms to foresee upcoming requirements which lead to its growing adoption hence boosting the market growth. Additionally, technological breakthroughs in cloud computing technology has further contributed to the growth of the market. Thus, its demand is high and contributes more to the market revenue.

North America accounted for the largest market share of over 40% in 2021.The existence of major key players functioning in the region is a key reason for the growth of the supply chain management market in the region. The presence of an enormous number of adopters for such software in the region is also contributing to the market growth. Thus, it contributes to more revenue generation in North America.

Access Research Report of Supply Chain Management Market @ https://www.grandviewresearch.com/industry-analysis/supply-chain-management-market-report

Supply Chain Management Market Report Highlights

  • Asia Pacific is forecast to register the highest CAGR of 11.4% from 2022 to 2028. The supply chain management market is expected to observe healthy growth due to the region being highly fitted out with technologies for the implementation of such software.
  • Procurement segment is likely to register the highest CAGR of 11.3% from 2022 to 2028. The increasing investment in procurement software by various businesses and organizations to automate the processing of goods inventory and materials purchasing is the key reason for the procurement software growth.

List of Key Players in the Supply Chain Management Market

  • SAP SE
  • Oracle Corporation
  • JDA
  • Infor
  • Manhattan Associates, Inc.
  • Coupa Software
  • IBM
  • Logility, Inc.
  • Korber AG
  • Epicor Software Corporation

Access Press Release of Supply Chain Management Market @ https://www.grandviewresearch.com/press-release/global-supply-chain-management-market

 

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